Archive for the ‘Buyers and Sellers’ Category

As a certified real estate mediator, I have seen an increase in calls from dissatisfied buyers complaining that sellers did not disclose property defects. It is important if you are a seller to disclose all known defects on the property if you are trying to sell your home. In addition, it should be disclosed if you had an insurance claim in the last 5 years (preferably any and all insurance claims) or all repair work done, even if you think the problem has been fixed. Issues can arise when a buyer encounters a similar problem that was not disclosed and thinks the seller is attempting to hide defects. The best policy is to carefully review with your REALTOR every insurance claim, upgrade, remodel and repair done on the property from the time you purchased the home. That may seem like an overwhelming task, but open disclosure to your buyers may decrease your risk of legal issues in the longer run.